Saudi Arabia signed a deal with the local unit of U.S. weapons maker Raytheon on...
FILE PHOTO: A visitor walks past the Raytheon stand at the 53rd International Paris Air Show at Le Bourget Airport near Paris, France June 21, 2019. REUTERS/Pascal Rossignol
Crown Prince Mohammed bin Salman plans to diversify the kingdom away from its reliance on oil exports and wants Riyadh to produce or assemble half its defense equipment locally, aiming to create 40,000 jobs for Saudis by 2030. Ahmed al-Ohali, governor of Saudi Arabia’s General Authority for Military Industries , said the agreement with Raytheon reflected the authority’s efforts to develop Saudi’s military industries and its research and technology capabilities, state news agency SPA reported.
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